10 Big Names With Surprising Gains

4. Futu Holdings Limited (NASDAQ:FUTU)

Futu Holdings snapped a four-day losing streak on Wednesday, jumping 6.01 percent to close at $178.66 apiece as investors cheered the company’s stellar earnings performance in the second quarter of the year.

In an updated report, Futu Holdings Limited (NASDAQ:FUTU) said net income more than doubled to HK$2.57 billion from HK$1.21 billion in the same period last year. Revenues grew by 69 percent to HK$5.3 billion from HK$3.13 billion year-on-year, on the back of higher brokerage commission and handling charge income, as well as increased interest income.

In the first half, net income more than doubled to HK$4.7 billion from HK$2.24 billion, while revenues increased by 75 percent to HK$10 billion from HK$5.7 billion year-on-year.

“Trade policy-induced market volatility, coupled with a slate of high-profile IPOs, boosted retail sentiment in Hong Kong, which, for the third quarter in a row, contributed the highest number of new funded accounts across all markets. The US market also recorded solid growth. In the second quarter, we became the official sponsor of the New York Mets, further elevating our brand image in the US and beyond. We also launched crypto trading in most of the states in June, strengthening our value proposition as a one-stop trading platform,” said Futu Holdings Limited (NASDAQ:FUTU) Chairman and CEO Leaf Hua Li.